AMD shared its earnings results for Q3 2022 today and included in the report are numbers that reflect the company beating previous EPS expectations. Previously, estimates were around $0.49 per share according to sources like Earnings Whispers. In the report, AMD saw shares at $0.67 each.
Revenue for the quarter came in at $5.6 billion, up 29 percent year-over-year (YoY) with a gross margin of 42 percent. The report notes this is a decrease of 6 percentage points YoY “primarily due to amortization of intangible assets associated with the Xilinx acquisition.” Meanwhile, net income sat at $66 million for the quarter with diluted earnings per share at $0.04.
Other interesting details in the report include AMD’s Data Center segment revenue at $1.6 billion, up a sizable 45 percent YoY and “driven by strong sales of EPYC server processors.” Operating income came in at $505 million (or 31 percent of revenue) compared to $308 million (28 percent) last year.
Additionally, embedded segment revenue was reported at $1.3 billion, up a staggering 1,549 percent YoY with growth driven primarily by the “inclusion of Xilinx embedded product revenue.” Operating income here was $635 million (49 percent of revenue) compared to $23 million (30 percent) last year.
For more on AMD’s earnings, be sure to read through the full report. Also check out some of our other market coverage including where you can listen to the AMD Q3 2022 earnings call, and how Electronic Arts (EA) Q2 2023 earnings results beating EPS and revenue expectations.